Compare Latest Bank Account Switching Deals
Bank Switch Offers
Why we like it: SPECIAL OFFER - Switch to a 1st Account and bank £175*. You also get access to a 7% AER/gross fixed for 12 months Regular Saver Account if saving between £25 and £300 a month (up to £3,600 per year). £250 interest-free overdraft (subject to status). No minimum monthly funding and no monthly account fee. No first direct fees for when spending abroad, withdrawing cash from the UK or when making a debit card payment in a foreign currency in the UK. Mobile banking app. UK based contact centre. For the £175 switching cash offer you need to open a 1st Account, switch your everyday banking to us using the Current Account Switch Service and pay in at least £1,000 within three months of opening the account. This offer is only available to new First Direct customers, or HSBC customers who haven't opened an account since 1 January 2020. *Complete a full switch using the Current Account Switch Service, including at least 2 Direct Debits or standing orders. Then deposit £1,000, make 5+ debit card payments, and log on to digital banking, within 30 days of your account opening. New customers only, who haven’t previously held a first direct product. Sorry, we also can’t offer this to people who have opened an HSBC current account on or after 1 January 2018. Offer can be withdrawn at any time. Subject to status. UK residents only
The Best Bank Accounts for Switch Incentives
If you are looking to move your bank account to a different provider, there are various factors to consider when making your choice. Issues like what interest rate you will pay on your overdraft and earn on your savings will be important, but for many switching incentives are a key decider.
Many providers now make current account switch offers, which include cash when you change accounts and cashback for things like having Direct Debits coming out of your account or paying household bills from the account. These benefits can swiftly add up and make a real difference to which account offers the best deal for you.
Between the various switching bonuses and cashback offers available on some of the most popular current accounts, it is possible for savvy switchers to earn £100 or more when they change account. The follow accounts will earn you at least £100 for opening a bank account either upfront or within the first year the account is open.
First Direct 1st Account - £175 welcome bonus for switching
First Direct are offering a £175 welcome bonus if you switch to their 1st Account. To qualify you must complete a full switch using the Current Account Switch Service, including at least 2 Direct Debits or standing orders. Then deposit £1,000, make 5+ debit card payments, and log on to digital banking, within 30 days of your account opening
Is it worth opening a new bank account for a good switching offer?
It is a good idea to think about exactly what you need from a current account and how you are likely to use it before making a decision about opening a new bank account. This can help to ensure you get the most out of your account on an ongoing basis.
Find the best bank accounts to switch to
Whatever your reasons for opening a new bank account, it is a good idea to spend some time researching your various options before making the switch. Check out the range of bank accounts on offer from across the market to see which offers the best deal for you.